Lloyds TSB Save The Change

Paul_Herring

pfpf wrote:

thank you. was "save the change" listed as a payee as YB said above? when did you actually make your 1st transaction that was then applied on the 5th?

Sorry - I slightly mislead you - the transactions on the 5th were applied on the 6th.

do they backdate any transactions to when you actually registered?

No - I was doing £1.01 transactions to Egg every day from the 1st Feb - only those on the 5th onwards were used.

i think im just going to to some transactions and wait till they appear before going for it in a big way.

That's all I did

fallen_angel_shelley

I have been paying in to my egg account using my debit card and none of the 99p's have shown up in my STC account yet. I have been doing since the 8th feb, has anyone any idea how long they will take to show on my STC account and if it realy works?

johnmoney05

fallen_angel_shelley wrote:

I have been paying in to my egg account using my debit card and none of the 99p's have shown up in my STC account yet. I have been doing since the 8th feb, has anyone any idea how long they will take to show on my STC account and if it realy works?

Probably either on Monday or Tuesday!

Grade_A_Reject

daveski wrote:

Grade A let us know if this works as it could be the answer. Thanks

Just checked my statement online and £4.95 has been transfered from my current account to my online saver for the 5 x 1p purchases I made yesterday. It remains to be seen if Lloyds TSB will match it at the end of the month.

If you do decide to go this route find a seller who has lots of the same item for sale and buy multiple single purchases of the same item ID (make sure the postage is free and that they accept Paypal payments before bidding too).

The reason I say make multiple purchases of the same item is to avoid ruining your Ebay feedback by having lots of penny purchases which is usually a sign of someone scamming. A seller can only leave one lot of feedback on a single item no matter how many times you buy one.

mary

My daughter, a student, rang to enquire about doing Save the Change. She has an authorised student overdraft of £1,500, fully taken up (in a High interest savings account). She was told by Customer Services that so long as she tops up the account a bit, say with a £100 she can still do the STC. She just has to open a Lloyds Saver Account first. My understanding was that her current account had to be totally in the black, and not in the red at all for the STC to count. Am I right or is customer services wrong?

johnmoney05

If she is going to open the Saver account, she needs to transfer £250 from Current accounts to Saver account for initial deposit. So I think she just need to deposit £250 into Current account, then open the Saver account even by using the overdraft money. BUT, if she is going to take advantage of the STC, she better leave some money in the Current account...just in case go over the limit.

Paul_Herring

Grade_A_Reject wrote:

It remains to be seen if Lloyds TSB will match it at the end of the month.

Ah. Someone else who didn't read the T&C's. :rolleyes:

They will match February's STC amount by 1st April and March's by 1st May. You MUST remain registered for STC and have the receiving account open by these dates to receive the matching money.

Paul_Herring

johnmoney05 wrote:

If she is going to open the Saver account, she needs to transfer £250 from Current accounts to Saver account for initial deposit.

Erm - she only "needs" to do this if she wants the highest interest rate.

mary wrote:

My understanding was that her current account had to be totally in the black, and not in the red at all for the STC to count. Am I right or is customer services wrong?

CS are wrong. From the T&C's:

LTSB wrote:

7. If on any day you do not have sufficient funds in your current account to pay your debit card transactions, or if any single transaction has taken your account overdrawn (whether or not the overdraft is authorised), we will not round up any debit card transactions on that day and no "change" will be transferred to your nominated savings account. We will not make a Save the Change transfer to your nominated savings account if that transfer will take your current account overdrawn

YorkshireBoy

Paul_Herring wrote:

Erm - she only "needs" to do this if she wants the highest interest rate.

Paul, the minimum opening deposit for the online saver is £250.

Grade_A_Reject

Paul_Herring wrote:

Ah. Someone else who didn't read the T&C's. :rolleyes:

I did read the T & C's ....

"5. We may withdraw the Save the Change February and March Matching promotion at any time."

If they think the scheme is being "abused" they may decide not to pay out. :rolleyes: